AN ACT to amend and reenact §31A-2-8 of the Code of West Virginia,
1931, as amended, relating to the Commissioner’s Assessment
and Examination Fund; allowing the Commissioner of Banking to
assess state banking institutions quarterly rather than on a
semiannual basis by establishing additional assessment dates
on April 1 and October 1; and providing that the Commissioner
of Banking shall prepare and send bank assessments by March 15
and September 15.

Be it enacted by the Legislature of West Virginia:

That §31A-2-8 of the Code of West Virginia, 1931, as amended,
be amended and reenacted, to read as follows:

(a) All moneys collected by the commissioner from financial
institutions and bank holding companies for assessments,
examination fees, investigation fees or other necessary expenses
incurred by the commissioner in administering such duties shall be
paid to the commissioner and paid by the commissioner to the
treasurer of the state to the credit of a special revenue account
to be known as the “commissioner’s assessment and examination fund”
which is hereby established. The assessments and fees paid into
this account shall be appropriated by law and used to pay the costs
and expenses of the Division of Banking and all incidental costs
and expenses necessary for its operations. At the end of each
fiscal year, if the fund contains a sum of money in excess of
twenty percent of the appropriated budget of the Division of
Banking, the amount of the excess shall be transferred to the
General Revenue Fund of the state. The Legislature may appropriate
money to start the special revenue account.

(b) The commissioner of banking shall charge and collect from
each state banking institution or other financial institution or
bank holding company and pay into a special revenue account in the
State Treasury for the Division of Banking assessments as follows:
(1) For each state banking institution, a quarterlyassessment
payable on January 1, April 1, July 1, and October 1 each year,
computed upon the total assets of the banking institution shown on
the report of condition of the banking institution filed as of the
preceding June 30, September 30, December 31 and March 31,
respectively, as follows:

Total Assets

But NotOf Excess

Over Over This Over

MillionMillionAmount Plus Million

$ 0$ 2$ 0.001645020 0

2 20 3,290.000205628 2

20 100 6,991.00016450220

100 20020,151.000106926 100

200 1,00030,844.000090476 200

1,000 2,000 103,225.000074026 1,000

2,000 6,000 177,251.000065801 2,000

6,000 20,000 440,454.000055988 6,000

20,000 40,000 1,224,292.000052670 20,000

(2) For each regulated consumer lender, an annual assessment
payable on July 1, each year, computed upon the total outstanding
gross loan balances and installment sales contract balances net of
unearned interest of the regulated consumer lender shown on the
report of condition of the regulated consumer lender as of the
preceding thirty-first day of December, respectively, as follows:

Total Outstanding Balances

But Not This Of Excess

Over OverAmount PlusOver

$ 0$ 1,000,000 800 - -

1,000,000 5,000,000 800.000400 1,000,000

5,000,000 10,000,0002,400.000200 5,000,000

10,000,000 - 4,200.00010010,000,000

If a regulated consumer lender’s records or documents are
maintained in more than one location in this state, then eight
hundred dollars may be added to the assessment for each additional
location.

In addition to the assessment provided in this subdivision,
the commissioner shall charge and collect from each regulated
consumer lender the actual and necessary costs and expenses
incurred in connection with any examination of a regulated consumer
lender.

(3) For each credit union, an annual assessment as provided
for in section eight, article one, chapter thirty-one-c of this
code as follows:

Total Assets

But Not This Of Excess

Over Over Amount Plus Over

$ 0 $ 100,000 100- -

100,000 500,000 300- -

500,000 1,000,000 500- -

1,000,000 5,000,000 500.000400 1,000,000

5,000,000 10,000,000 2,100.000200 5,000,000

10,000,000 - 3,100.00010010,000,000

(4) For each bank holding company, an annual assessment as
provided for in section eight, article eight-a of this chapter.
The annual assessment may not exceed ten dollars per million
dollars in deposits rounded off to the nearest million dollars.

(c) The commissioner shall each December March, June and
September prepare and send to each state banking institution a
statement of the amount of the assessment due. The commissioner
shall further, each June, prepare and send to each regulated
consumer lender and each state credit union a statement of the
amount of the assessment due. The commissioner shall annually,
during the month of January, prepare and send to each bank holding
company a statement of the amount of the assessment due.

State banking institution assessments may be prescribed every
three months, not later than June 15 September 15, December 15 and
March 15 by written order of the commissioner, but shall not exceed
the maximums as set forth in subsection (b) of this section. In
setting the assessments the primary consideration shall be the
amount appropriated by the Legislature for the Division of Banking
for the corresponding annual period. Reasonable notice of the
assessments shall be made to all interested parties. All orders of
the commissioner for the purpose of setting assessments are not
subject to the provisions of the West Virginia administrative
procedures act under chapter twenty-nine-a of this code.

(d) For making an examination within the state of any other
financial institution for which assessments are not provided by
this code, the commissioner of banking shall charge and collect
from such other financial institution and pay into the special
revenue account for the Division of Banking the actual and
necessary costs and expenses incurred in connection therewith, as
fixed and determined by the commissioner. Banks that provide only
trust or other nondepository services, nonbanking subsidiaries of
bank holding companies that provide trust services, nonbanking
subsidiaries of banks that provide trust services and any trust
entity that is jointly owned by federally insured depository
institutions may be assessed for necessary costs and expenses
associated with an examination pursuant to this subsection.

(e) If the records of an institution are located outside this
state, the institution at its option shall make them available to
the commissioner at a convenient location within the state or pay
the reasonable and necessary expenses for the commissioner or his
or her representatives to examine them at the place where they are
maintained. The commissioner may designate representatives,
including comparable officials of the state in which the records
are located, to inspect them on his or her behalf.

(f) The commissioner of banking may maintain an action for the
recovery of all assessments, costs and expenses in any court of
competent jurisdiction.